The property is situated on a prominent corner on New North Street, approximately 100 metres south of the world renowned Great Ormond Street Hospital and approximately 450 metres north of Holborn Underground Station (Central, Piccadilly). Gray’s Inn, the centre of the legal profession, is some 400 metres to the east. Major office occupiers close by include Media Com, Warner Bros and Unite.

Tenure

Long Leasehold. Held for a term of 125 years from May 1998 at a fixed peppercorn rent.

Description

The property comprises a refurbished ‘Loft Style’ self-contained air-conditioned office accommodation on the ground floor and lower ground. The property forms part of a larger period building that has been converted to residential flats.

VAT

VAT is applicable to this lot.

Completion Period

Six Week Completion

EPC

Band D

Tenancy & Accommodation

Floor

Use

Floor Areas (Approx)

Tenant

Term

Rent p.a.x

Reversion

Ground Lower Ground

Office Office

57.99 sq m 91.74 sq m

(624 sq ft) (988 sq ft)

DREES & SOMMER UK LIMITED (1)

5 years from 15/04/2018

£85,437

14/04/2023

Totals

149.73 sq m

(1,612 sq ft)

£85,437

(1) Drees & Sommer UK Limited is part of a leading German real estate and consulting practice. The tenant company was incorporated in April 2020 and is rated by Experian as “Very Low Risk”. For the year ending 31st December 2017, Drees & Sommer UK Limited reported a total net worth of £192,669.